Autofocus on some compact cameras is fantastic. For the tests I've seen between the V1 and the NEX7, the NEX beats it in every test except single point autofocus where the lens is already set to the correct distance. I expect the Nikon has better low light performance but autofocus isn't everything...far from it. I admit however that these tests can be somewhat subjective. From experience i can say that the NEX-7 is very fast and autofocus is quite capable.

Everyone forgets that the V1/J1 ONLY uses phase detection in good light. When light levels drop, they default to contrast based AF which has pathetic performance according to DPReview:

"Assuming that the light level is high enough, then the J1 and V1 switch to a 73-point focal-plane phase-detection AF system that offers fast and responsive 'single-shot' AF and impressive continuous AF tracking performance.

The switch to phase-detection AF depends on the amount of light falling onto the cameras' sensors, which is dependant on lens aperture as well as ambient light levels...

The J1 and V1's contrast-detection AF systems, which take over when light levels are too low for effective phase-detection AF (and remember that this is the camera's decision, not the photographer's) are less impressive. Focussing is less positive (AF wobbles quickly around the target rather than locking straight on it) but impressively accurate when it gets a 'lock'. The problem is that even in average interior room light, both cameras struggle to find that lock. They rarely give up completely (and built-in AF illuminators are on hand in both cameras) but we've been surprised by how frequently they falter."

Almost everyone seems focused on the mirrorless. I'm anxious to see what this new Rebel is like. Hoping it will provide some clues as to the direction Canon will take with the 7DII. (At least I'll enjoy reading the tea leaves like everyone else.)

maxxevv

A mirrorless FF would be absolutely awesome... it would get the Leica M9 into loads of sales problems ...

BUT ... that isn't likely to happen anytime soon as its not a mass market item.

My guess is, its a camera with the G1X sensor, custom lenses that are ultra small,( since it has such a short back-focus distance from previous patent information). Will fit EF and EF-s lenses with an adaptor as well as compatible with the full range of Canon flashes and share some of the Rebel series stuff such as remotes and maybe batteries.

A US$1,000 kit at launch.

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the-ninth

I also cannot imagine a FF mirrorless, though I'd buy one if it is at $3K with a decent 50mm. EF is not a must if it limits Canon's ability to produce lenses of a smaller size, befitting a compact system. Small lenses are really a must here. Why would I need a mirrorless if I'd put a 70-200/2.8 in front? APS-C would be OK as well, anything smaller disappointing (Bokeh!).

But I guess us geeks, looking for a second option next to our DSLR, is not the main market that Canon wants to target, so their considerations might be different.

The Sony A99 camera will have 24.3 MP full frame sensor. The A99 will have 102 focus points. Two different A99 prototypes are being evaluated - one of them has a flip and touch screen. The A99 will have 3 million pixel high-definition EVF. To be announced in September 2012. Price: 18,000 yuan (around $2,800). The A99 will support 24 video recording formats and a variety of screen style filters.

Sony marketing hype aside, there has been a recent thread here "the writing's on the wall for traditional dslrs" and sadly I have to agree. The only question is if Canon will be able to convert some of their current market share in the entry-level segment into the new market, while retaining the upgrade path to high-end dslrs (i.e. the ef mount). But Canon has to get started now, and obviously they are going to.

Personally, I hope I'll never have to use an evf that draws power just for looking through it, but then again many even older-school photogs maybe wished they'll never use af or automatic metering...